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....But the figures are skewed by a series of tax changes this year and last. In April 2016, landlords became liable for a higher rate of stamp duty. ... [Read full article on BBC ]
Tuesday 23rd of May 2017 10:32:02 AM
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Latest Finance News related to Stamp Duty

Further signs of UK property slowdown in April image
Source : BBC [Read Article] Tuesday 23rd of May 2017 10:32:02 AM
....But the figures are skewed by a series of tax changes this year and last. In April 2016, landlords became liable for a higher rate of stamp duty. ...
Buy-to-let slump after stamp duty change image
Source : BBC [Read Article] Wednesday 17th of May 2017 09:57:25 AM
. Mortgage activity in the UK buy-to-let sector has halved since the introduction of a stamp duty surcharge, figures show. ...
Is Labour's manifesto living in fantasy land? Quite the opposite | Larry Elliott image
.... The employers who whinge constantly about the poor quality of school leavers and graduates will be asked to contribute more to the education budget through higher corporation tax. Labour plans to broaden stamp duty to a wider range of financial instruments, including derivatives, which will raise £5bn and help lessen volatility. ...
How to build your grand design for a humble price image
Source : Guardian [Read Article] Sunday 14th of May 2017 06:00:08 AM
.... This means buyers work with a designer on the look, size, layout and features of the house, but without the hassle of finding land, getting planning permission and hiring reputable architects and builders. Buyers can save on build costs and don’t pay stamp duty, except on land worth more than £150,000. ...
May to appeal to low-paid voters with new social housing pledge image
Source : Guardian [Read Article] Saturday 13th of May 2017 09:00:05 PM
....Labour said it will extend the current tax of 0. 5% per transaction that is applied to ordinary shares through the stamp duty reserve tax. ...
Buy-to-let landlords suffering tax increases plan to raise rents  image
Source : Daily Express [Read Article] Saturday 13th of May 2017 05:27:00 PM
.... Buy-to-let owners have also been restricted for tax relief claims on wear and tear. Furthermore, second home buyers must now pay additional stamp duty. ...
Tesco boss's bonus cut despite first sales growth in seven years image
Source : Guardian [Read Article] Friday 12th of May 2017 07:21:20 AM
....6m in 2015-16. The annual report also revealed that Tesco paid £142,000 in stamp duty and legal fees to help Lewis buy a house closer to the company’s headquarters in Hertfordshire. ...
'Stagnant' buyer demand puts the brakes on UK housing market image
Source : Guardian [Read Article] Wednesday 10th of May 2017 11:01:33 PM
....The Rics members surveyed predicted that UK property price inflation would slow during the next three months, but despite this, they were anticipating that all parts of the country would see some growth in prices during the next 12 months. “Anecdotal evidence cites a lack of choice, uncertainty due to the calling of an early election, and the ramifications of stamp duty changes as factors hampering activity,” said the organisation. ...
London rents fall for first time since 2009 amid post-Brexit vote slowdown image
.... In a bid to kickstart sales, developers are offering ever more extravagant incentives to lure buyers. One developer in north London has promised a £150,000 payment to cover stamp duty, an £18,000 electric car and free iPads to buyers willing to part with £1. ...
Bank of Mum and Dad is a major financial player - but could it be about to go bust? image
....Barclays, Hinckley & Rugby, Metro Bank, and Bank of Ireland help by allowing parent and child to take out a mortgage in joint names. He adds: “The property title will only be in the child’s name, as otherwise the parent could be liable for a stamp duty surcharge and capital gains tax when the property is sold. ...
House price CRASH: Top London home values plunge lower in April image
Source : Daily Express [Read Article] Saturday 6th of May 2017 11:58:00 AM
....Between 2009 and 2013 price rises in wealthy London areas rocketed, hitting a peak in 2015. Experts blame changes to stamp duty for collapsing the top of the market, after an extra duty on sales of second homes was introduced last year. ...
Buy a home, get a car free: offers galore as London estate agents struggle to sell image
. London estate agents have begun to offer free cars worth £18,000, stamp duty subsidies of £150,000, plus free iPads and Sonos sound systems to kickstart sales in the capital’s increasingly moribund property market. ...
Parents '10th biggest mortgage lender' image
Source : BBC [Read Article] Tuesday 2nd of May 2017 09:52:41 AM
....When they found a property, their parents still helped them with thousands of pounds. "The real difficult hurdle was not necessarily the deposit, but the stamp duty, which is a huge cost," he said. ...
London rents fall sharply as monthly bill drops across UK image
Source : Guardian [Read Article] Friday 28th of April 2017 06:01:03 AM
....The figures broadly tally with data from Countrywide, the UK’s biggest estate and lettings agency, which said in March that rents in Britain recorded their first annual drop for six years. Countrywide said the buying frenzy ahead of the hike in stamp duty last year pushed up the supply of new homes for letting by 10%, but tenant demand has been falling, particularly in London, possibly as a result of Brexit. ...
As first-time buyers, can we take out a buy-to-let mortgage? image
Source : Guardian [Read Article] Thursday 27th of April 2017 06:00:09 AM
.... Having looked on Rightmove, it seems that even in the expensive city of Oxford, there are plenty of two-bedroom houses for sale for less than £280,000. But wherever you choose to buy, you’ll also need to factor in the costs of buying such as legal fees, stamp duty and furnishing the property. ...
Santander chief warns on 'changeable' UK economy image
Source : BBC [Read Article] Wednesday 26th of April 2017 10:31:49 AM
....Santander UK's mortgage lending fell after withdrawing cheaper deals in the previous three-month period. First-quarter figures a year earlier were also flattered by a flurry of buy-to-let borrowers aiming to beat April's stamp duty increase for second homes. ...
Duke of Westminster's £12bn property firm hit by London slump image
Source : Guardian [Read Article] Tuesday 25th of April 2017 05:00:42 PM
.... It is the company’s worst UK performance since the 2008 financial crisis and follows six successive years of returns above 10%. Mark Preston, chief executive of Grosvenor Group, said Brexit and the increase in stamp duty on luxury properties had “greatly contributed to a slowdown in the London residential market” and warned that he expected returns this year to be “significantly weaker”. ...
Asking prices for homes rise to record average of £313,655 image
Source : Guardian [Read Article] Monday 24th of April 2017 06:00:04 AM
....Last year, the chancellor gave a year’s notice of phased reductions in tax benefits for buy-let-investors. First-time buyers appear to have been the main beneficiary, though a higher rate of stamp duty on second homes, which came into effect this month, also had the effect of spurring sales to people from purchasing an additional property. ...
Buy-to-let slump puts first-time buyers in the driver’s seat image
Source : Guardian [Read Article] Saturday 22nd of April 2017 05:59:06 AM
.... A double whammy of tighter Bank of England lending rules, which have forced banks and building societies to insist on greater rental cover and higher deposits, plus new taxes on rental income, has made buy-to-let far less financially attractive. Lending peaked in March 2016, as landlords rushed through purchases to avoid a 3% hike in stamp duty. ...
Record low rate signals mortgage battle image
Source : BBC [Read Article] Friday 21st of April 2017 09:48:53 AM
.... . The exception was a surge to 173,860 in March last year, ahead of the introduction of a 3% stamp duty surcharge on the purchase of any additional buy-to-let properties or second homes. ...
As newlyweds, what capital gains tax will we pay if we sell one of our flats? image
.... I was told by a friend that if we wanted to avoid capital gains tax (CGT) we would have to sell one of the flats in the first three years of getting hitched. I am thinking of selling my flat to buy a house but since we would still have his flat, would we have to pay second home stamp duty or does that come under the same three-year allowance?. ...
UK government vows strong action to rein in energy companies image
Source : Guardian [Read Article] Wednesday 19th of April 2017 12:25:24 PM
....The trade body that represents energy suppliers stepped into the debate by calling on the government to make energy efficiency a national priority. In a report on how to meet the UK’s 2030 carbon targets, Energy UK said ministers should fund a major insulation scheme through general taxation and encourage householders with grants, tax incentives and stamp duty rebates. ...
Mortgage tax relief cut doesn’t add up for buy-to-let landlords image
Source : Guardian [Read Article] Saturday 1st of April 2017 06:00:17 AM
....It’s not just landlord bodies that have expressed concern. In December Kate Barker, an influential economist, housing market expert and former member of the Bank of England’s monetary policy committee, told the Commons Treasury select committee that while she was generally supportive of the decision to increase stamp duty for people who were buying to let, she had more difficulty with the change to mortgage tax relief. ...
Five-minute guide to…The resurgence of first-time buyers image
Source : Daily Express [Read Article] Sunday 19th of March 2017 12:01:00 AM
....Amateur landlords now make up just 8 per cent of market activity, Connells says, as the Treasury’s tax onslaught on the sector squeezes profits. Second home buyers have to pay a 3 per cent stamp duty surcharge on purchases, while wear and tear allowances have also been squeezed. ...
Are these cashback deals  a carrot… or a costly stick? image
Source : Guardian [Read Article] Saturday 18th of March 2017 07:00:32 AM
....In short, the advice is: do your research, take advice if necessary, and choose a deal based on whether it suits your financial needs and is competitively priced, rather than any “bribes” on offer. Mark Harris at mortgage broker SPF Private Clients, says cashback comes in all shapes and sizes – from fairly nominal amounts, to more sizeable sums, which could be a contribution towards – or completely offset – your stamp duty. ...
Housebuilder Berkeley shrugs off Brexit vote to hit profit targets image
....The London-focused developer also said inquiry levels remained "robust" and pricing continued to be "resilient". It said the market had been adversely affected by a number of factors apart from Brexit uncertainty, including changes to stamp duty, the challenges of securing planning permission and the demands to provide affordable housing. ...
Rents fall for first time in six years image
Source : BBC [Read Article] Monday 13th of March 2017 09:20:45 AM
....The drop has been due to a big recent increase in the supply of properties becoming available, mainly in London. That was due to some landlords rushing to buy last year before a 3% stamp duty surcharge came into effect. ...
UK average annual rents fall for first time in six years image
Source : Guardian [Read Article] Monday 13th of March 2017 06:00:24 AM
....In February, the average rent in Britain was £921 a month, £5 lower than a year earlier, and the first annual decrease since 2011. Countrywide, which compiled the figures, said the buying frenzy ahead of the hike in stamp duty last year pushed up the supply of new homes for letting by 10%. ...
Landlord tax: How to beat new buy-to-let charges coming in NEXT month  image
Source : Daily Express [Read Article] Friday 10th of March 2017 04:44:00 PM
....“With this Government’s recent track record in mind, we’d advise any landlords who have yet to incorporate to wait to see whether a consultation is launched in the Budget before making a decision. ”It comes after investors were last year hit with an extra three per cent in stamp duty on second properties. ...
Foxtons sees property sales plunge as Brexit vote hits image
Source : BBC [Read Article] Wednesday 8th of March 2017 08:06:35 AM
. Foxtons says revenue from property sales plunged 23% last year due to uncertainty following the Brexit vote as well as changes to stamp duty. ...
Reality Check image
Source : BBC [Read Article] Tuesday 7th of March 2017 01:31:56 AM
....The category of tax that has been rising strikingly and is mainly responsible for the increase next year is "other". That includes the new dividend tax regime, the increased insurance premium tax and a higher rate of stamp duty land tax for second homes. ...
Simplify the tax system and the ‘economy will be more efficient’ image
Source : Daily Express [Read Article] Monday 6th of March 2017 08:33:00 AM
. The body wants the Government to do away with capital gains tax, stamp duty, council tax, business rates and inheritance tax. ...
Buy-to-let landlords face huge tax increase from new law image
Source : Daily Express [Read Article] Sunday 5th of March 2017 12:01:00 AM
London loses out in business rates revamp image
Source : BBC [Read Article] Saturday 4th of March 2017 12:07:28 AM
.... . In the 2004-5 tax year London's taxes - including income tax, corporation tax and stamp duty - accounted for 25% of Britain's overall tax revenue. ...
House sellers 'should pay stamp duty' image
Source : BBC [Read Article] Thursday 2nd of March 2017 01:38:01 PM
....The rate steadily increases for more expensive properties. The stamp duty threshold was increased to £125,000 in 2006 to keep pace with house price inflation. ...
‘Buy for Uni’ mortgage turns students into landlords image
Source : Guardian [Read Article] Monday 27th of February 2017 09:28:35 AM
....Stamp duty One benefit is that the property will be in the child’s name. “That avoids any potential stamp duty land tax surcharge on the purchase of additional property, assuming that the parent already owns their own home,” explains Hollingworth. ...
London home movers drops to lowest level since 1991, mortgage figures show image
Source : Daily Express [Read Article] Wednesday 22nd of February 2017 04:38:00 PM
....". Some experts have said recent stamp duty changes, which made the tax cheaper for the majority of home buyers but more expensive for the purchase of top-end homes, have had a dampening effect on the London market. ...
UK house price growth at slowest rate in four years image
Source : Guardian [Read Article] Monday 20th of February 2017 07:01:30 AM
....”. Rightmove said the housing market was boosted in early 2016 by “frenzied” buy-to-let investors who rushed to complete transactions before new stamp duty rules were introduced in April, making this year look subdued by comparison. ...
A London penthouse for £60,000. No, not to buy – that's the weekly rent image
Source : Guardian [Read Article] Saturday 18th of February 2017 09:00:35 AM
....It may cost £60,000 a week to rent, but London’s most expensive flat does come with a butler, a choice of daily newspaper – and the use of an Aston Martin. The 448 sq metre art deco Park Lane penthouse is the costliest of a new breed of ultra-luxurious properties designed to cater for the global super-rich, who are choosing to rent rather than buy in London in order to avoid million pound-plus stamp duty bills. ...
Will we pay higher stamp duty on a buy-to-let property? image
Source : Guardian [Read Article] Thursday 16th of February 2017 11:10:19 AM
New double whammy to hurt prudent older savers image
Source : Daily Express [Read Article] Tuesday 14th of February 2017 10:29:00 PM
.... . New figures published yesterday by the Council of Mortgage Lenders showed that investors have been deterred by the 3 per cent stamp duty surcharge on second properties, introduced last April. ...
New mortgage helps buyers meet Stamp Duty costs  image
Source : Daily Express [Read Article] Tuesday 14th of February 2017 12:01:00 AM
. Barclays said its homebuyer cashback mortgage is designed to help first-time buyers or home movers recover the cost of stamp duty on their new property purchases. ...
Foreign billionaires in London choosing to rent to avoid stamp duty image
Source : Guardian [Read Article] Sunday 12th of February 2017 04:04:20 PM
.... Lettings that cost more than £3,000 a week – £156,000 a year – increased by 28% in the last three months of 2016, according to research by the property data service LonRes. The number of prime central lettings in the capital has risen steadily since the introduction in April 2016 of a 15% stamp duty tax on properties bought via offshore trusts, and a three percentage point surcharge on stamp duty on second homes. ...
Government willing to admit UK housing market is
Source : Daily Express [Read Article] Sunday 12th of February 2017 12:01:00 AM
.... That is even faster than the anticipated 20 per cent rise in house prices. The only positive news for first-time buyers is that competition from buy-to-let landlords is shrinking, as the recent 3 per cent stamp duty surcharge on second home purchases has been deterring new investors. ...
UK rents expected to rise faster than house prices in next five years image
Source : Guardian [Read Article] Thursday 9th of February 2017 12:01:07 AM
....Rics said there was a lack of new listings coming on to the lettings market for the fourth quarter in a row and its members expect this to worsen. The past few months have seen a number of buy-to-let investors sell up, including Britain’s biggest landlord, Fergus Wilson and his wife, Judith, who declared that the days of small buy-to-let landlords were numbered after the stamp duty increase last year and other tax changes, along with tougher mortgage rules. ...
Brexit has allowed the banks to get off Britain's naughty step image
Source : Guardian [Read Article] Sunday 29th of January 2017 04:00:28 PM
....Even so, a group of 10 EU countries – including the eurozone’s big four of Germany, France, Italy and Spain – have been working on plans for an FTT and last week Pierre Moscovici, the EU commissioner for the economy, said he thought an agreement was within reach. A forthcoming paper for the Robin Hood Tax campaign by the former City banker Avinash Persaud says the government could build on an existing financial transaction tax – stamp duty on share trades – to create a more broadly-based levy that would raise an additional £5bn a year. ...
Brad Pitt and Angelina Jolie: faces of the new 'global citizen class'? image
Source : Guardian [Read Article] Friday 20th of January 2017 05:50:56 PM
....”. London was named the most desireable city for the wealthy to buy property because of its personal and business safety, culture, education and shopping, and despite the government increasing stamp duty on second homes worth more than £1. ...
‘I thought I’d bought my first home, but I lost £67,000 in a conveyancing scam’ image
.... He had to make the transfers online as he was travelling abroad for work and realised that if that was the case for all the remaining tranches of money he would miss his completion date. Mollett says the solicitors had emphasised how important it was to ensure all the funds reached them on time, so he emailed the Sethi Partnership that same day asking about the best way to get the rest of the money – a total of £74,837 to cover the remaining deposit, stamp duty, fees etc – to them promptly to meet the deadline. ...
Foxtons shares slump after significant fall in London property sales image
Source : Guardian [Read Article] Wednesday 11th of January 2017 09:45:19 AM
.... Should current levels of sales activity continue in the short term, it is likely that 2017 volumes will be below those in 2016,” he said. A company spokesman said Foxtons had been hit by uncertainty caused by the Brexit vote, affecting foreign buyers in particular; the impact of last April’s 3% stamp duty rise on the top end of the market; and general affordability issues, with rising house prices far outstripping wage growth in recent years. ...
The Guardian view on the housing crisis: right to rent | Editorial image
Source : Guardian [Read Article] Sunday 8th of January 2017 07:21:18 PM
.... As an IPPR report concluded in October, what is needed is an active deal-making process between the devolved authorities and Whitehall, where the former release public land and invest public money in developing local skills. In return, the government rationalises funding streams, allows retention of stamp duty on new builds, and devolves control over council tax to shape types of tenure. ...
Five minute guide to surviving a New Year separation image
Source : Daily Express [Read Article] Sunday 8th of January 2017 12:01:00 AM
.... . Divorce is an expensive business, especially if there is a house move involved, with couples spending on average £11,894 on stamp duty, removals, estate agency and surveyor fees, according to mutual society OneFamily. ...
Top London property prices 'pushed down by taxes and Brexit vote' image
Source : Guardian [Read Article] Thursday 5th of January 2017 11:24:11 AM
....9% when including the rest of the capital. But the real estate firm said a collapse in the number of sales had slowed as sellers adjusted asking prices to reflect increases in stamp duty and the dampening effect of the Brexit vote. ...
House prices 2017 image
Source : BBC [Read Article] Monday 2nd of January 2017 11:30:29 PM
....Despite the drop in activity in London, the average house price in the capital is still £474,000, more than double the typical price of £217,000 in the UK as a whole, according to the latest official figures from the Office for National Statistics (ONS). The slowdown in central London is the result of the most significant change in the housing market in 2016 - a stamp duty surcharge on buy-to-let and second homes. ...
Why the UK economy could fare better in 2017 than forecasters predict image
Source : Guardian [Read Article] Sunday 1st of January 2017 12:36:53 PM
.... There are warnings the levy may prompt unscrupulous employers to rebadge existing jobs as apprenticeships to meet training targets and recoup the costs of the charge. There was no house price crash after the referendum, but growth eased, dampened by Brexit-related uncertainty and stamp duty changes. ...
Snow cabins and jungle showers: the latest perks of a luxury London flat image
Source : Guardian [Read Article] Wednesday 28th of December 2016 01:59:49 PM
....Nine newly built homes worth more than £5m were sold in the six months to October, down 83% on the same period in 2015, according to analysis of Land Registry data published earlier this month by property investment company LCP. Increases in stamp duty announced by the former chancellor George Osborne and the uncertainty of Brexit have been blamed. ...
UK house prices to rise marginally in 2017, says Halifax image
Source : Guardian [Read Article] Wednesday 28th of December 2016 12:01:20 AM
.... It forecasts zero growth in central districts during 2017 and falls in the outer prime areas such as Richmond. It blamed high levels of stamp duty – £43,750 on a £1m property – rather than Brexit for the stalling market. ...
First-time buyer aid cash: SW England gets biggest share image
Source : BBC [Read Article] Friday 23rd of December 2016 03:35:17 AM
. The South-West has been awarded the largest share of a fund raised through extra stamp duty on second homes to help first-time buyers in England. ...
Stamp duty land tax boosts tax receipts image
Source : BBC [Read Article] Wednesday 21st of December 2016 04:36:38 PM
....Official figures show that £7. 7bn has been raised from stamp duty land tax (SDLT) during the first eight months of the 2016-17 financial year. ...
Income tax powers for Wales set to come in 2019 image
Source : BBC [Read Article] Monday 19th of December 2016 05:58:56 AM
.... . The Welsh Government has already been granted powers over stamp duty - to be replaced by a Land Transaction Tax - and the tax on landfill sites, both of which will take effect in April 2018. ...
Housing sales to fall in 2017, says CML image
Source : Guardian [Read Article] Thursday 15th of December 2016 11:55:23 AM
....26m it forecast a year ago, which the CML said was “partly relating to the economic uncertainty from the EU referendum, but also because of tax and regulatory changes in the housing and mortgage market”. In April, a higher rate of stamp duty on second homes was introduced, increasing the upfront cost of buying investment property. ...
Mortgage market to plateau until 2018, lenders warn image
Source : BBC [Read Article] Thursday 15th of December 2016 11:31:15 AM
....It said it expected 2015 to have been the "high watermark" of landlord borrowing, with each of the following three years seeing declines. It blamed stamp duty and regulatory changes. ...
Mortgage data points to slowdown in UK housing market in October image
Source : Guardian [Read Article] Wednesday 14th of December 2016 01:43:57 PM
....”. Activity in the buy-to-let market – which is being monitored by the Bank of England – has been slowing as a result of the 3% stamp duty surcharge on second properties introduced in April. ...
House prices crash in London's richest areas - but surge in the East of England image
Source : Daily Express [Read Article] Tuesday 13th of December 2016 04:44:00 PM
....1 per cent month on month, the data showed. Experts said London's slowdown is down to the Government's higher stamp duty rates for buy-to-let investors and high value buyers. ...
Is property facing a meltdown in 2017? image
Source : Daily Express [Read Article] Sunday 11th of December 2016 10:10:00 AM
....There is no doubt a measured slowdown would be a good thing, especially in London, where the average property now costs £482,800, up 86 per cent since 2009, against an average salary of £33,720 in the capital. Mark Hayward, managing director of the National Association of Estate Agents, says the high-end London market has been hit by stamp duty hikes and taxes on overseas buyers. ...
How a healthy buy-to-let profit could soon become a painful loss image
Source : Guardian [Read Article] Saturday 10th of December 2016 07:00:07 AM
....That in turn means Mr/Ms Example’s net profit after tax takes a big tumble, falling from a current £1,680 a year to a £280 loss in 2020-21. However, this is arguably too upbeat in that it doesn’t factor in the upfront costs of acquiring the property, including the new higher stamp duty on buy-to-lets. ...
Buy to let: ‘We landlords are being vilified’ image
Source : Guardian [Read Article] Saturday 10th of December 2016 06:59:07 AM
.... Other landlords say that their effective tax bill will rise to 100%. As the buy-to-let market reels from last April’s stamp duty hike, and awaits the tightening of lending criteria starting in January and the steep increase in tax being phased in from next April, is the party over for Britain’s two million landlords?. ...
Days of the buy-to-let landlord are numbered, says Fergus Wilson image
Source : Guardian [Read Article] Friday 9th of December 2016 10:11:07 AM
.... “The government has recognised that the appeal of buy-to-let investment is not only making it harder for people to buy their first home, but is drawing capital away from productive parts of the economy, such as job-creating businesses and building new homes. “Both the stamp duty surcharge and withdrawal of tax relief will reduce the incentives for borrowing heavily to speculate on house prices, and help create a fairer housing market. ...
BREXIT BOOST: House prices strongest since April as low supply pushes up values  image
Source : Daily Express [Read Article] Thursday 8th of December 2016 04:27:00 PM
....Simon Rubinsohn, chief economist at Rics, said although there are signs that sales activity may edge up towards the New Year, the ongoing shortfall in the supply of homes and recent tax changes affecting buyers suggest that any pick-up will be "relatively modest". Changes to the structure of stamp duty have made the tax more expensive for some people buying top-end homes, and there have been suggestions this has impacted on the London market in particular. ...
Can we divorce to avoid the higher stamp duty on second homes? image
Source : Guardian [Read Article] Thursday 8th of December 2016 07:00:09 AM
. Q I was wondering if, under the new stamp duty laws for second properties, it would be worthwhile considering a divorce before purchasing? My husband does not own any property and we are considered purchasing a home together. ...
Housing market faces slow start to 2017, says Rics image
Source : BBC [Read Article] Thursday 8th of December 2016 12:23:27 AM
....The Rics report said this highlighted the fact that "the supply shortage [is] a very dominant feature of the market at present". Changes to the structure of stamp duty has hit the market for £1m-plus homes, particularly in London. ...
UK luxury homes market slumps after Brexit vote image
Source : Guardian [Read Article] Wednesday 7th of December 2016 07:36:12 PM
.... Transactions for all UK properties costing between £5m and £10m were down by 51%, from 201 to just 99. LCP said the figures, which are taken from Land Registry data, showed that the market had been hit hard by a new higher rate of stamp duty on second homes which came into effect at the start of April. ...
UK office construction forecast to plunge after Brexit vote image
Source : Guardian [Read Article] Tuesday 6th of December 2016 02:29:49 PM
....Savills also sees an end to the post-credit crunch house price boom, forecasting that residential prices will flatline next year after five years of increases. London’s luxury property market has been hit in particular, as Brexit uncertainty and increased stamp duty have been putting off foreign buyers. ...

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